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EURUSD Forecast
The EURUSD slipped above 1.3669 yesterday, topped at 1.3687, which is the 50% Fibo retracement of 1.3680 – 1.3507 but still unable to stay consistently above 1.3669 so far. Overall there are no significant technical changes and price still trapped in range area of 1.3500 – 1.3800 suggests that price still in consolidation phase, still looking for a new direction. After the false breakout above 1.3800, overall bias should remains to the downside for now unless price breaks above 1.3687 which would change the intraday technical bias to bullish re-testing 1.3800 after the failure to break below 1.3500 on Monday. Immediate support at 1.3600 – 1.3570. Break below that area could trigger further bearish pressure re-testing ...

EURUSD Forecast
The EURUSD was volatile but indecisive yesterday, made a Doji on daily chart. Price attempted to push lower, bottomed at 1.3507, but closed higher at 1.3578 and hit 1.3614 earlier today in Asian session. We saw another buying activity around 1.3500 support area which keep us in range market between 1.3500 – 1.3800. On the upside, immediate resistance at 1.3625. Clear break above that area could trigger further bullish pressure testing 1.3669. Clear break above 1.3669 could open the door for further upside pressure re-testing 1.3800 key resistance area.



GBPUSD Forecast
The GBPUSD slipped above 1.6170 yesterday, ...

EURUSD Forecast
The EURUSD attempted to push lower on Friday, bottomed at 1.3543 but traded higher earlier today in Asian session, hit 1.3622. The bias is neutral in nearest term. On h1 chart below we can seen that there were buyers around 1.3540 – 1.3500 support area which keep price in range condition between 1.3500 – 1.3800 for now. We need a clear break from either side to see clearer direction. Immediate resistance at 1.3669. Break above that area could turn the intraday bias to bullish and open the door for further upside pressure re-testing 1.3800 key resistance area. On the downside, a clear break below 1.3500 would give us a bearish medium outlook testing 1.3250.

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EURUSD Weekly Summary: Change in polarity at 1.3800 key level

The EURUSD made another volatile but indecisive movement this week, made another Doji on weekly chart. Last week I talked about the triangle which suggests a consolidation phase with 1.3800 as a key level. That condition remains the same. This time, I want to take a closer look at 1.3800 level from another technical perspective called “change in polarity” which is one of the most important principles of technical analysis. This principle simply means that a broken support becomes a resistance and a broken resistance becomes a support. As you can see on my weekly chart below, the 1.3800 level has been a key level since May 2009. When price breaks below 1.3800, it ...